Half of Purchases Cannot Be Treated as Bogus Without Verification: ITAT Delhi

ITO Vs Bansal Insulation Products Pvt. Ltd (ITAT Delhi) Reopening Saved But ₹8.31 Cr Cash Credit Addition Quashed- Half of Purchases Cannot Be Treated as Bogus Without Enquiry – ITAT Delhi: Rebukes AO for Blind Reliance on Investigation Wing The matter arose out of reassessment proceedings initiated against Assessee wherein AO had made an addition of ₹8.31 crore u/s 68 on account of alleged accommodation entries & further added ₹16.62 lakh as commission said to have been paid to entry operators. CIT(A) deleted the additions & also held that the assessment itself was barred ...